The weekly average prices of gasoline and diesel at domestic gas stations fell slightly for the fourth straight week.
According to Opinet, the oil price information system of Korea National Oil Corporation (KNOC), on June 13, the nationwide average retail price of gasoline at gas stations in the second week of June (the 7th to the 11th) was 2,009.9 won per liter (L), down 0.5 won from a week earlier.
Seoul, with the highest prices, was 2,051.5 won, up 0.7 won from the previous week. Daegu, with the lowest prices, was tallied at 1,990.6 won, down 1.4 won.
By brand, SK Energy gas stations were the highest at an average of 2,013.8 won. Budget gas stations were the lowest at 1,995.9 won.
The average retail price of diesel was 2,004.8 won, down 0.3 won from a week earlier.
International oil prices rose early in the week as fighting between the United States and Iran continued. In the latter half of the week, prices fell after U.S. President Donald Trump said a final peace agreement between the two countries would be reached.
Dubai crude, the benchmark for imported crude prices, was $89.7, down $4.5 from a week earlier. The international gasoline price was $117.5, up $1.3, and international automotive diesel was $140.1, down $7.9.
Fluctuations in international oil prices are usually reflected in domestic gas station prices with a lag of two to three weeks.
Meanwhile, the government again froze the sixth maximum oil prices that took effect on the 22nd of last month. Accordingly, gasoline remains at 1,934 won per L, diesel at 1,923 won, and kerosene at 1,530 won. These are the same as the second through fifth maximum prices.